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Laramide Resources Closes Over-Subscribed $3.75M Equity Financing

/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES ./

Listed (TSX:LAM; ASX:LAM)

TORONTO , June 21, 2018 /CNW/ - Further to its press release dated June 4, 2018 and June 8, 2018 , Laramide Resources Ltd. ("Laramide" or the "Company") is pleased to announce that the Company has closed its non-brokered private placement on June 20 th, 2018 (the "Offering"), and that the Offering was over-subscribed as the Company issued 12,500,000 units (the "Units") at a price of C$0.30 per Unit, for aggregate gross proceeds of C$3,750,000.00 .

Marc Henderson , Laramide's President and CEO, commented, "We received strong support from existing shareholders and were pleased to see a number of new supporters participate in Laramide's placement, including new institutional shareholders. The proceeds of the placement allow the Company to progress the Church Rock Project towards development following the significant maiden NI 43-101 Church Rock Mineral Resource Estimate which was released in Q4, 2017." Mr. Henderson added, "We continue to believe Church Rock is potentially one of the highest quality undeveloped ISR projects in the U.S. and would be an obvious beneficiary of any of the government policy actions under consideration which would assure U.S. domestic security of supply."

The Company plans to use the net proceeds of the Offering to advance exploration and development activities primarily at Church Rock and Crownpoint uranium properties in New Mexico, USA , and for general corporate purposes.

Each Unit consisted of (i) one common share in the capital of the Company, (ii) one-half (1/2) of one common share purchase warrant (each whole such warrant a "Series A Warrant"), with each whole Series A Warrant entitling the holder to purchase one additional common share at a price of $0.45 until June 20, 2021 , and (iii) one-half (1/2) of one common share purchase warrant (each whole such warrant a "Series B Warrant"), with each whole Series B Warrant entitling the holder to purchase one additional common share at a price of $0.60 until June 20, 2021 , provided however that Series B Warrants shall only be exercisable upon the exercise by the holder of an equal number of Series A Warrants on or before December 20, 2019 .

The securities issued pursuant to the Offering are subject to a statutory four-month hold period expiring on October 21, 2018 .

The Company paid a cash commission of 6% to certain eligible parties that acted as finders in connection with the Offering. PowerOne Capital Markets Limited, Haywood Securities Inc. and Canaccord Genuity Corp., among others, acted as finders in connection with a portion of the Offering.

Certain officers and directors of the Company (the "Related Parties") participated in the Offering, and whose participation constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Such related party transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of securities being issued to the related parties nor the consideration being paid by the related parties exceeded 25% of the Company's market capitalization. The participants in the Offering and the extent of such participation were not finalized until shortly prior to the completion of the Offering. Accordingly, it was not possible to publicly disclose details of the nature and extent of related party participation in the Offering pursuant to a material change report filed at least 21 days prior to the completion of the Offering.

The securities issued pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

To learn more about Laramide, please visit the Company's website at www.laramide.com.

About Laramide Resources:

Laramide is a Canadian-based company with diversified uranium assets strategically positioned in the United States and Australia that have been chosen for their low-cost production potential. Laramide's recently acquired Church Rock and Crownpoint properties form a leading In-Situ Recovery (ISR) division that benefits from significant mineral resources and near-term development potential. Additional U.S. assets include La Jara Mesa in Grants, New Mexico , and La Sal in the Lisbon Valley district of Utah . The Company's Australian advanced stage Westmoreland is one of the largest uranium projects currently held by a junior mining company. Laramide is listed on the TSX: LAM and ASX: LAM.

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors are encouraged to review the Company's public filings at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.